Gold prices took a slight hit in domestic futures trading on Tuesday, November 4, 2025, as a steady dollar and improved trade relations between the US and China diminished the metal’s safe-haven demand. On the Multi Commodity Exchange (MCX), December gold futures fell by Rs 836, or 0.69%, slipping to Rs 1,20,573 per 10 grams with a turnover of 13,332 lots.
Globally, Comex gold futures also weakened, dropping $19.19 (0.48%) to $3,994.81 per ounce, pressured by a firm dollar and reduced expectations for a further US Federal Reserve rate cut next month. The dollar index, measuring the greenback against six currencies, inched up by 0.08% to 99.95, contributing to the bearish trend in gold.
City-wise, gold rates today reflected this downward shift but remained influenced by local demand and festivities. For instance, in Delhi, 22K gold was priced at Rs 11,240 per gram and 24K at Rs 12,251; similarly, rates in Mumbai, Bengaluru, Chennai, Kolkata, Hyderabad, Ahmedabad, Jaipur, Bhubaneswar, and Kanpur hovered close to these levels with minor variations.
Market analysts attribute the correction to easing geopolitical risks and a resilient dollar, factors that have reduced gold’s allure as a safe investment temporarily. However, gold continues to hold cultural and investment significance in India, especially during the festive and wedding seasons, supporting steady demand despite price softening.
Overall, the gold market is experiencing a phase of consolidation driven by global financial signals and domestic buying patterns, suggesting cautious investor behavior as they weigh inflation, currency strength, and geopolitical developments.
